Bet on Brazil?

Brazil has been the focus of much attention recently. It's got sugar cane, Petrobras...and apparently Warren Buffett. Here, Zacks senior Latin American markets analyst Claudio Freitas weighs in on the country's investing prospects:

I do believe Brazil is in a better situation than most emerging countries: its current account is still positive, trade balance should be positive (around US$30 billion) for 2008 and total reserves of the country is around US$180 billion—much more than the public external debt. All considered, I believe Brazil will outperform emerging markets during this turbulence, and any major weakness should be considered a buying opportunity.

While commodity stocks remain risky, Freitas favors several telecommunications and electric utility companies.

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